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Using Environmental Insurance in Dod Property Transfers: A New Tool for Managing Cleanup Risk

By Department of Defense

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Book Id: WPLBN0000081561
Format Type: PDF eBook
File Size: 3.1 MB
Reproduction Date: 2005
Full Text

Title: Using Environmental Insurance in Dod Property Transfers: A New Tool for Managing Cleanup Risk  
Author: Department of Defense
Volume:
Language: English
Subject: Military, Armed Forces., National defense.
Collections: Military and Armed Forces Library Collection
Historic
Publication Date:
Publisher: Department of Defense

Citation

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Defense, D. O. (n.d.). Using Environmental Insurance in Dod Property Transfers: A New Tool for Managing Cleanup Risk. Retrieved from http://hawaiilibrary.net/


Description
Government Reference Publication

Excerpt
Excerpt: An increased understanding of the risks related to environmental cleanup and redevelopment of contaminated properties, such as brownfields and Superfund sites, has prompted development of new environmental insurance products. The coverage options now available allow parties—such as the Local Redevelopment Authority (LRA), developer, lender, and lessee—to tailor insurance policies specifically to their situation in managing the potential legal, financial, and environmental risks that may be associated with redeveloping former D.O.D. property. Additionally, where the LRA assumes responsibility for cleaning up property transferred using the Early Transfer Authority (ETA), the LRA can purchase environmental insurance to insure itself against possible cost overruns during its cleanup of the installation property. Insurance coverage for costs related to the interruption of business resulting from newly discovered contamination can also be obtained.

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